Winter is going, but now the taxman is coming
Almost 30,000 taxpayers submitted their returns via eFiling in the first nine hours of the 2015 Tax Season‚ the South African Revenue Service (Sars) said on Wednesday. The tax collector said “7305 have filed via our branches and Mobile Tax Units” although they have until September 30 to do so.Tax Season‚ which opened at 0.01am on Wednesday‚ “has grown into an important partnership between government and taxpayers who make a vital contribution to our country’s tax system”‚ Sars said.Sars is expecting to process 850,000 fewer returns than it did in in 2014‚ when 5.32-million were submitted‚ “because of the introduction of a higher submission threshold”. This year‚ taxpayers whose total salary – before tax - is below R350000; receive an income from only one employer for the full year of assessment; have no other form of income (such as car allowance‚ business income‚ taxable interest or rent or income‚ etc); and have no additional allowable tax deductions to claim such as medical expenses‚ retirement annuity contributions‚ travel expenses.Last Tax Season’s threshold was R250,000...
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